Bitcoin and other Cryptocoins have been drawing a lot of my attention again with a truly breathtaking series of price high after price high (measured in dollar and other paper-currency terms). The latest high is $9771 so far, happening last night. Most of the recent highs did not hold for long but were rep[laced by even higher ones, often within hours. Altcoins are doing similarly exciting things. The overall coinmarketcap is now up more than 300% in just six months.
This might be a good time for more businesses to consider accepting Bitcoin as payment for their products or services. Overstock have been the first to do so, introducing Bitcoin payments in 2014 or so. My own images are available for download for Bitcoin and Altcoin payments as well. Current rumors are, that eBay, Amazon and other large online sellers are considering accepting Bitcoin payments, too. The time might be right, as U. S. tax regulations are about to be amended and include a tax-free threshold of $600 for Bitcoin payments, giving Crypto payments the same status as any foreign (paper) currency from an income-tax point of view. (In fact, the amendment might have been brought up by lobbying by Amazon and similar interests in order to give them an easy way to open up additional customer interest by accepting coin payments without having to worry about resulting income-tax implications.)
It should not only be me selling images for Bitcoin and Altcoins but the time for large stock image agencies accepting Bitcoin may be right around the corner. Wouldn’t it be nice if Dreamstime, Videoblocks, Nimia or Shutterstock, for example, started selling stock image downloads for Crypto coins?
On top of opening up new markets, it would also benefit contributors and image buyers alike by reducing payment processing fees as well as sizeable allowances for losses due to credit-card charge-backs priced in to prices these days.